JAMES CARTER: How Three Misguided Beliefs Are Threatening America’s Future
OPINION2022 National Debt Clock - U.S. Economy - Fiscal Challenges
Daily Caller News Foundation logo
JAMES CARTER
CONTRIBUTOR
January 07, 2024
Facing a potential government shutdown later this month, federal policymakers are scrambling to negotiate appropriations bills while preparing to determine the fate of several expiring tax provisions. Unfortunately, three widely held, but gravely misguided, beliefs threaten to skew Congress’ deliberations and put America’s future at further risk.
As Mark Twain noted, “It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.”
Misguided Belief #1: “We [the federal government] don’t have to balance our checkbook. We are like the banker in Monopoly. We create the money. We hand out the money everyone else plays the game with.”
Rep. John Yarmuth (D-KY), the then-chairman of the House Budget Committee, was literally caught on film making that claim. He argued there is no need for federal spending restraint. As Yarmouth put it, “we can pay for whatever we want to pay for.”
https://dailycaller.com/2024/01/07/opinion-how-three-misguided-beliefs-are-threatening-americas-future-james-carter/
